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Colorado Brokers Exam
Vocabulary
28
Real Estate & Planning
Professional
01/21/2015

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Cards

Term
Absolute Water Right
Definition
A term often used to describe a water right under which water has been fully diverted and applied to beneficial use so that the water right is no longer a conditional water right, to distinguish it from a conditional water right.
Term
Acre-Foot
Definition
Volumetric measurement of water used for quantifying reservoir storage capacity and historic consumptive use and for other purposes. This is the amount of water that will cover an acre of land at a depth of one foot, or 325,851 gallons of water
Term
Adjudication
Definition
The judicial determination of the extent, nature and limitations of a water right appropriation in a statutory court proceeding.
Term
Appropriation
Definition
The application of a certain portion of the waters of the state of Colorado to a beneficial use.
Term
Appropriation Date
Definition
The date defining the priority of right to divert appropriated water in times of limited water supply.
Term
Appropriator
Definition
A person who applies water to beneficial use so as to obtain a water right.
Term
Aquifer
Definition
A subsurface water-bearing geological structure capable of storing and yielding water to streams, springs, or wells.
Term
Augmentation
Definition
A detailed program to increase the supply of water available for beneficial use in a water basin or portion thereof by the development of new or alternate means or points of diversion, by a pooling of water resources, by water exchange projects, by providing substitute supplies of water, by the development of new sources of water, or by any other appropriate means.
Term
Beneficial Use
Definition
The use of that amount of water that is reasonable and appropriate under reasonably efficient practices to accomplish, without waste, the purpose for which the appropriation is lawfully made.
Term
Conditional Water Right
Definition
A right to perfect a water right with a certain priority upon the completion, with reasonable diligence, of the appropriation upon which such water right is to be based.
Term
Consumptive Use
Definition
The amount of water that is consumed during its beneficial use so that it does not return to the waters of the state of Colorado.
Term
Cubic Foot per Second (cfs)
Definition
Measurement of flow rate of water in a running stream, a ditch or canal, or a pipeline. Water flowing at one cfs will deliver 448.8 gallons per minute or 648,000 gallons per day. One cfs flowing for 24 hours equals 1.983 acre-feet of water.
Term
Deed of Trust
Definition
a legal document in which title to property is transferred to a third party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary (lender)
Term
Direct Flow Water Right
Definition
A water right that gives the owner thereof the right to divert water from a specified water source at a specified rate of flow for current use.
Term
Doctrine of Prior Appropriation
Definition
A theory of water law based on the principle, restated as “first in time is first in right” that regards the right to divert water from a water source.
Term
Foreclosure
Definition
a legal procedure whereby property used as security for a debt is sold to satisfy the debt in the event of default in payment of the mortgage note
Term
Junior Appropriator
Definition
An appropriator whose right to use specified water is subject to a prior or senior right of another appropriator of the same water source.
Term
Non-adjudicated or unadjudicated water right
Definition
A water right that has not been submitted to the appropriate court for adjudication. An unadjudicated water right is junior in priority to all water rights from the same source that have been adjudicated.
Term
Point of Diversion
Definition
The location at which water is removed from its natural course or location by means of a ditch, canal, flume, reservoir, bypass, pipeline, conduit, well, pump, or other structure or device.
Term
Priority
Definition
The seniority, by date, as of which a water right is entitled to divert water and the relative seniority of a water right in relation to other water rights deriving their supply from a common source.
Term
Promissory Note
Definition
An unconditional written promise for one person to another to pay a certain sum of money to another
Term
Promissory Note
Definition
A written promise to repay a debt
Term
Public Trustee
Definition
A county official to whom borrowers convey title to real property by trust deed for the benefit of the benefiviary (lender).
Term
Senior Appropriator
Definition
An appropriator whose water right has priority over another appropriator having a right to use water from a common water source.
Term
Storage Water Right
Definition
A water right that gives the owner thereof the right to divert and store water from a specified water source in a specified volumetric amount for current or future use.
Term
Trust Deed
Definition
A loan security instrument by which a borrower conveys title to a trustee. This is typically to be held for the protection of a lender as security for the repayment of the debt.
Term
Water Right
Definition
A real property right, either absolute or conditional, to use, in accordance with its priority, a certain portion of the waters of the state of Colorado by reason of the appropriation of such water, as confirmed by a Water Court decree or a Ground Water Commission well permit.
Term
liens
Definition
a charge or claim that one person has on the property of another as security for a debt or obligation.
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